In 2008 Ed Heffernan, CFO at Alliance Data, found himself at the center of the storm created by the financial crisis and the credit freeze that followed. Yet Heffernan saw in the crisis an opportunity for the company’s private-label credit division to grow through acquisitions. How would he convince others that this was a risk worth taking in an uncertain financial environment? In this case, students are asked to analyze the alliances Heffernan formed and the strategy he employed to sell this risky plan to both company insiders and industry onlookers.

Case id: 100409